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Prime Minister Narendra Modi will meet leaders of Sweden, Norway, Finland, Denmark & Iceland for the first India-Nordic Summit in Stockholm on April 17.

Modi will be the first Indian PM to visit Stockholm since 1988. The only other instance of a similar Nordic summit was during President Barack Obama’s tenure when heads of state or governments participated.

Swedish Ambassador to India Klas Molin told ET “Prime Minister Löfven was very happy to accept the proposal by PM Modi to hold an Indo-Nordic Summit in Stockholm. The two PMs have met and spoken often over the last few years and they have very good chemistry. They jointly invited the other Nordic prime ministers to Stockholm for the summit.

The six leaders will exchange views on regional and global issues such as environment and climate, trade and investment and discuss areas of future cooperation,”. Löfven’s office in a statement said “the government is working to strengthen Sweden’s role as a key partner for India in the country’s rapid development, especially in innovation.”

Modi will meet the Indian diaspora at the end of the visit. There are 25,000 living in Sweden, with industries like tech in particular attracting skilled labour. Over 170 Swedish companies have invested $1.4 billion since 2000. Around 70 Indian companies have invested in Sweden. India-Sweden annual bilateral trade stands at around $1.8 billion, according to MEA statement. India-Nordic trade $ 5.3 billion in 2016-17, with Cumulative FDI to India at $ 2.5 billion.

The SEC is accusing Volkswagen and its former CEO of 'massive fraud'. By Daniel Shane, CNN Business. Updated 4:38 AM ET, Fri March 15, 2019

SEC's complaint, filed in a federal court in San Francisco, relates to $13 billion in bonds and other securities that Volkswagen issued in 2014 and 2015. The lawsuit alleges that the company made false and misleading claims about its financial health and the environmental impact of its technology in order to sell the securities to investors at inflated prices.

The SEC alleges that senior Volkswagen executives were aware when the securities were sold that more than 500,000 of the company's vehicles in the United States breached vehicle emissions limits."By concealing the emissions scheme, Volkswagen reaped hundreds of millions of dollars in benefit by issuing the securities at more attractive rates for the company," the SEC said in a statement. The complaint targets Volkswagen, two of its US subsidiaries and Winterkorn.The SEC is seeking to recover "ill-gotten gains" from the automaker and impose civil penalties.

The originators of Mice Schidt said:

SEC report is "legally and factually flawed, and Volkswagen will contest it vigorously." The securities were "sold only to sophisticated investors, who were not harmed and received all payments of interest and principal in full and on time," the spokesman. The complaint "repeats unproven claims" about Winterkorn who "played no part in the [securities] sales," he added.